HomeMy WebLinkAboutRES 81-333 1
R E S O L U T I O N
WHEREAS, the City of Beaumont and the American National
Bank of Beaumont, Texas entered into a contract September 29 , 1979,
whereby it was provided that the American National Bank of
Beaumont, Texas, would pledge with the City Council of the City of
Beaumont certain securities in lieu of giving bond as City
Depository; and,
WHEREAS, the American National Bank of Beaumont, Texas
wishes to pledge the following securities with Texas Commerce Bank
of Houston, Texas:
Receipt No . Description Par Value
181096 U.S. Treas Notes, 8% due $1 ,000,000.00
2/15/83
296689 U.S . Treas Notes, 7 .625% $1 ,000,000.00
due 11/15/87
195658 U.S . Treas Notes, 7 .75% 500,000.00
due 11/15/81
196427 U.S . Treas Notes, 7 .75% 600,000.00
due 11/15/81
168376 U.S . Treas Notes, 7 .75% 600,000.00
due 11/15/81
175863 U.S . Treas Notes, 7 .75% 1 ,000,000.00
due 11/15/81
175862 U.S . Treas Notes, 7 .75% 1 ,000, 000.00
due 11/15/81
296860 U.S . Treas Notes, 8 .00% 300,000.00
due 8/15/86
U.S . Treas Notes, 7 .875% $2,000, 000.00
due 11/15/82
The total securities being pledged with the Texas Commerce Bank of
Houston, Texas are in the amount of $8,000, 000.00 ; and,
WHEREAS, after this pledge, the American National Bank of
Beaumont, Texas, will have $421165 , 000.00 pledged to protect the
deposits of the said City of Beaumont, Texas.
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the American National Bank of Beaumont, Texas, be permitted to
pledge the above described securities, and a certified copy of this
resolution shall constitute evidence of the authority of the
American National Bank of Beaumont, Texas, to make said pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the day of , 19
Mayor -